Russia FX/Rates Snapshot - July 6, 2020
There was no escalation in sanctions rhetoric over the weekend, although there was a further deterioration in the situation with the virus in the US. However, the virus remains under control in Europe and China, two economically important regions, so hopes for a quick economic recovery remain in place. Against this backdrop, optimism is prevailing in global markets this morning, as both shares and EM currencies are advancing. The ruble is up about 0.5% against the dollar to around 71. If the service sector PMIs from the US come in upbeat, the buoyant sentiment will remain in place and the ruble should firm to 70.5.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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